A $100 million (£61.5m) loan from a London based bank is set to help towards the construction and development of a power plant in Jordan.
Located 15km east of the Jordanian capital Amman (pictured), the 240MW Al Manakher plant is expected to help the country address its energy shortages and ensure the security of future supplies.
The European Bank for Reconstruction and Development (EBRD), which provided the loan, said the plant is “urgently needed” to provide extra capacity to prevent blackouts at times of peak demands.
Nandita Parshad, Director of Power and Energy for the EBRD said: “This is a region where demand for power is growing fast and it is crucial to secure private sector investment to deliver this vital infrastructure. Jordan faces a real and immediate challenge in securing a stable and reliable power supply, which this plant will meet using the most modern and efficient technology.”
Jordan currently imports more than 95% of the energy it consumes. The bank expects to invest up to €2.5 billion (£2bn) across the southern and eastern Mediterranean region, which includes Jordan, Morocco, Egypt and Tunisia, by 2015.